This blog is all about the life in UAE and its emirates. Life in Dubai, Abu Dhabi, Sharjah and other northern emirates would be the main discussion on this blog. More to come on places to visit in uae.

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Tuesday, November 15, 2011

Setting up business in UAE

Before setting up business office in UAE, be it in Abu Dhabi or Dubai or Sharjah or Ajman or Ras Al Khaimah or Fujairah or Umm al Quwain proper study regarding the rules and regulations for that particular emirate must be carried out. Any businesses, whether services, industrial, trading or professional must be licensed to operate in the UAE. Licensing procedures vary from emirate to emirate and the relevant details are available from the concerned Chambers of Commerce.
The Commercial Companies Law and the Trade Agencies Law constitute the primary federal legislative framework controlling commercial activities in the UAE. These documents can be downloaded from the Ministry of Economy web site.

When setting up office in UAE, there are things that you need to consider and have a look at. The procedures to set up a company in UAE is comparatively simple.

When setting up a business within UAE, the business entity used must fall within one of the 7 business categories mentioned in Federal Law no 8 of 1984 concerning Commercial Companies (as amended by the Federal Law no 15 of 1998) (the Companies Law).

When setting up company in Dubai, a trade license must be obtained from the Dubai Department of Economic Development (the DED) prior to the entity commencing commercial activities. Some business sectors may also require further approval from various ministries and/or other authorities. Certain commercial activities are restricted to UAE nationals or companies fully owned by UAE nationals.

To form a business or company in UAE, the current best option are Free zones and virtual zones. Below are some of the major free zones in the country.